AI Data Center in South Korea Expected to Be Completed in 2028

A consortium of investors plans to build one of the world's largest AI data centers in South Korea, with an estimated cost of $35 billion, according to a statement released Monday.

Investment firm Stock Farm Road has signed an agreement with the Jeollanam-do provincial government to construct a facility capable of delivering up to 3 gigawatts of power—nearly three times the planned capacity of OpenAI and SoftBank’s Stargate project in the US.

Stock Farm Road, spearheading the initiative, expects construction to begin later this year and reach completion by 2028.

The firm will initially invest $10 billion, with total funding projected to reach $35 billion.

The center will be located in South Korea’s southwestern region, away from Seoul, positioning it as a major hub for AI development.

The project comes amid a booming data center market, valued at $219 billion in 2023 and projected to reach $584 billion by 2032, with North America expected to lead.

According to a statement:

“The facility will feature advanced cooling infrastructure, regional and international fibre bandwidth, and the ability to handle significant and sudden variations in energy load. It will serve as a foundation for next-generation AI enablement, fostering innovation and economic growth in the region and beyond.”

AI training, known for its high energy demands, is expected to require more than 5 gigawatts of electricity by 2030, according to research firm Epoch AI.

These models rely on advanced chips from manufacturers like Nvidia.

Stock Farm Road was founded by Brian Koo, grandson of LG’s founder, and Amin Badr-El-Din, CEO of BADR Investments, which operates in London and Jordan.

The company manages energy resources through its proprietary energy-to-intelligence (e2i²) platform, leveraging AI and data analytics to optimise efficiency.

South Korea Aiming to Become a Leader in Tech with AI Data Center Project

Stock Farm Road plans to leverage its expertise in data center construction while tapping into its broader financial network to fund the ambitious project.

This development aligns with a global push by businesses and governments to expand AI infrastructure, particularly in data center investments, to enhance capabilities and maintain a competitive edge.

Earlier this year, the Biden administration underscored this priority with an executive order aimed at accelerating domestic AI infrastructure development.

The directive instructs federal agencies to make government-owned sites available for AI data centers and clean energy projects, streamline permitting processes, and improve grid connectivity to support the rapid expansion of AI-driven computing.